Daiichi Life Insurance Co. Ltd. Makes New Investment in Automatic Data Processing, Inc. $ADP

Daiichi Life Insurance Co. Ltd. bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, Holdings Channel.com reports. The firm bought 17,738 shares of the business services provider’s stock, valued at approximately $3,972,000.

Other hedge funds also recently made changes to their positions in the company. Imprint Wealth LLC acquired a new position in shares of Automatic Data Processing during the third quarter worth $25,000. Cornerstone Financial Management LLC bought a new position in shares of Automatic Data Processing in the 4th quarter valued at $26,000. Bard Associates Inc. acquired a new stake in shares of Automatic Data Processing during the 4th quarter valued at $28,000. Prosperity Bancshares Inc acquired a new stake in shares of Automatic Data Processing during the 4th quarter valued at $33,000. Finally, High Point Wealth Management LLC bought a new stake in Automatic Data Processing during the 4th quarter worth $34,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $280.81 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $308.89. The stock has a market cap of $111.56 billion, a price-to-earnings ratio of 25.67 and a beta of 0.81. The company’s fifty day moving average is $249.66 and its 200 day moving average is $226.17.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.05. The business had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.Automatic Data Processing’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.

Insider Activity

In related news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total value of $641,206.68. Following the transaction, the vice president directly owned 9,660 shares of the company’s stock, valued at $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on ADP. Citigroup upped their target price on Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. UBS Group lifted their price target on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Robert W. Baird reduced their price target on Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. BMO Capital Markets upped their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Finally, Guggenheim raised their price objective on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $273.50.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.